# Summary Statistics: Net vs Gross External Positions

| Variable | N | Mean | SD | Min | P25 | P50 | P75 | Max |
|:---|---:|---:|---:|---:|---:|---:|---:|---:|
| ca_gdp | 7624.0 | -2.027 | 13.344 | -242.976 | -6.455 | -2.449 | 1.572 | 314.906 |
| trade_balance_gdp | 8151.0 | -5.602 | 17.437 | -164.795 | -11.539 | -2.994 | 2.164 | 78.789 |
| income_balance_gdp | 6506.0 | 3.572 | 18.074 | -134.167 | -2.844 | 0.391 | 6.165 | 431.464 |
| gross_assets_gdp | 7938.0 | 221.362 | 1070.139 | -3.466 | 18.836 | 38.155 | 96.384 | 20320.537 |
| gross_liab_gdp | 7944.0 | 277.621 | 1648.932 | 0.847 | 49.241 | 80.745 | 136.749 | 39479.686 |
| gross_ifi | 7938.0 | 499.139 | 2645.440 | 3.264 | 79.680 | 129.221 | 236.490 | 54416.269 |
| nfa_gdp | 7712.0 | -0.213 | 1.566 | -46.386 | -0.626 | -0.321 | -0.043 | 15.699 |
| fdi_assets_gdp | 7914.0 | 56.742 | 432.769 | -8.004 | 0.004 | 1.620 | 10.320 | 10679.738 |
| fdi_liab_gdp | 7926.0 | 76.060 | 388.367 | -0.526 | 7.035 | 20.739 | 47.260 | 9353.871 |
| fdi_net_gdp | 7913.0 | -19.415 | 134.077 | -1780.194 | -32.475 | -12.319 | -2.722 | 4441.667 |
| debt_assets_gdp | 7995.0 | 119.337 | 576.736 | 0.000 | 7.505 | 16.787 | 46.213 | 11983.856 |
| debt_liab_gdp | 7967.0 | 156.771 | 1020.741 | 0.000 | 29.833 | 50.320 | 85.991 | 29164.351 |
| debt_net_gdp | 7967.0 | -37.817 | 652.326 | -20288.571 | -47.069 | -24.968 | -5.815 | 3015.344 |
| port_eq_assets_gdp | 7908.0 | 27.204 | 167.649 | -0.097 | 0.000 | 0.181 | 5.549 | 4078.900 |
| fx_reserves_gdp | 7948.0 | 16.755 | 31.895 | -3.466 | 4.329 | 10.164 | 18.814 | 515.252 |
| savings_investment_gap | 6525.0 | -3.874 | 17.589 | -164.795 | -10.097 | -2.293 | 3.409 | 60.840 |
| gross_national_savings_gdp | 5740.0 | 21.928 | 15.698 | -236.242 | 15.204 | 21.189 | 27.713 | 372.975 |
| gross_investment_gdp | 6620.0 | 23.609 | 8.530 | -15.678 | 18.646 | 22.884 | 27.613 | 76.782 |
| Z_1 | 17775.0 | -0.755 | 1.317 | -3.983 | -1.816 | -0.636 | 0.103 | 3.639 |
| Z_2 | 17775.0 | -11.871 | 20.454 | -60.887 | -29.190 | -9.942 | 1.238 | 71.552 |
| Z_3 | 17775.0 | -170.213 | 291.742 | -850.346 | -420.458 | -140.088 | 13.621 | 1248.352 |
| kaopen | 7156.0 | 0.074 | 1.556 | -1.939 | -1.254 | -0.175 | 2.029 | 2.281 |
| agg_portfolio_total_gdp | 1645.0 | 157.251 | 692.484 | 0.000 | 2.883 | 18.382 | 76.700 | 7954.603 |
| agg_portfolio_debt_gdp | 1612.0 | 81.575 | 372.332 | 0.000 | 1.529 | 8.327 | 42.145 | 4010.247 |
| agg_fdi_outward_gdp | 2970.0 | 124.313 | 609.997 | -42.382 | 1.100 | 4.335 | 24.643 | 7921.577 |

*Source: Full panel filtered to year ≤ 2024.*